Sugar Land is a small town located in Texas. Sugar Land’s economic development has come a long way since its foundation in the 19th century.
Back in the 19th century, Sugar Land was known for having the highest number of quality sugar plantations. Cultivation flourished in this area thanks to the fertile soil along the Brazos River. Since the quality and quantity of sugar exceeded all expectations, several sugar companies settled in Sugar Land. The first sugar company was the Imperial Sugar Company. This was the first of many steps taken to make Sugar Land what it is today.
In the 19th century, local Sugar Land entrepreneurs explored the town’s potential for economic development. Gradually, the number of sugar plantations multiplied and progressed. Finally, in 1908, the Imperial Sugar Company established its headquarters and distribution center in Sugar Land. It is the main sugar refinery in Texas. The importance of this company to the local economic prosperity is evident in the fact that the seal and logo of Sugar Land is the crown logo of the Imperial Sugar Company. Sugar Land is a business hub in Texas thanks to, well, sugar.
Over time, this small but proud city in Texas emerged as a region of financial and economic development. According to Sugar Land news, since 1959, Sugar Land has been known as a company town where several small and large-scale companies began their ventures. Sugar Land Sweet Cash Program, as well as the local community, support small businesses.
Since the 1980s, Sugar Land has contributed to the development and prosperity of Texas. Because of its high employment ratio and better opportunities, young professionals have emigrated to Sugar Land. Thanks to the town’s unique mix of residential and commercial properties, the City of Sugar Land’s holidays are a special experience for the local families.
Sugar Land is one of the fastest-growing cities in Texas. According to the latest census held in 2019, Sugar Land has an estimated population of 118,488.
In 1991, BMC Software was functional in Sugar Land after it leased 120 square feet at the Sugar Creek National Bank Building and 16,000 square feet in the Fluor Daniel Building.
In 1995, Schlumberger, an oil services company, moved its offices from Gulf Freeway to Sugar Land. The campus dedicated to this purpose is spread over an area of 33 acres. Meanwhile, the former campus in Gulf Freeway was transformed into the University of Houston Energy Research Park in 2009. Till 2015, Schlumberger was the second-largest employer in Sugar Land.
Sugar Land City Hall is a prime source of entertainment for everyone. People visit Sugar Land for this place with friends and family for dining and spending quality time together. Several businesses are set up in this area giving ample leverage to the economy. The Sugar Land community finds this hall, located in Sugar Land Town Square, an asset.
The Comprehensive Annual Financial Report of Sugar Land released in 2019 marks the following companies as the largest employers of Sugar Land:
To ensure the hiring of local residents, it is necessary to promote and encourage education in Sugar Land.
According to the Sugar Land information center, the average income of a household in Sugar Land is $122,233. This index estimates whether the residents are able to afford a healthy and facilitated lifestyle according to their salaries and incomes or not. The cost of living in Sugar Land is 2.5% higher as compared to the rest of the country. According to a report of 2019, the average wage of a worker in Sugar Land is $51,205.
The above-mentioned figure is $57,413 for the rest of the USA. Since Sugar Land is still an emerging small town with ample opportunities for investors, it will take time to settle with more competitive rates and ratios.
The largest industrial sector is health care and social assistance, employing 12,937 workers. The second largest is retail trade, employing 10,282 workers. The third largest is accommodation and food services, employing 9,600 workers.
Every sector is provided a score called High Location Quotients (LQs), which indicates a high concentration of employment compared to the national average. According to LQs, the largest sector is mining, quarrying, and oil and gas extraction, with LQ 7.75. The second largest is accommodation and food services, with LQ 1.38. The third largest is retail trade, with LQ 1.30.
The average wages in the mining, quarrying, and oil and gas extraction sector is $142,718; in the utilities sector it is $89,712 and $83,972 in the management of companies and enterprises sector.
The Chamber of Commerce believes in helping businesses grow. To achieve targets, it employed an Sugar Land SEO strategy to divert more traffic for each business.
The economic growth and development of all industrial sectors and business hubs is important. With proper marketing tools and strategies, even a new startup with minimum investment can grow into a flourishing business.
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